Ethos unveils recovery tokens for Voyager victims, rebrands as Ethos 2.0

abdelaziz Fathi

Ethos, a cryptocurrency services provider that bridges multiple blockchain protocols and financial institutions and systems, is launching its second iteration, rebranding as “Ethos 2.0”.

In 2019, Voyager Digital acquired Ethos.io and incorporated the team, technology and native token into its ecosystem. However, the crypto platform filed for Chapter 11 bankruptcy protection in July 2021 and since then it has been engaged in ongoing court proceedings.

Per the announcement, Ethos aims to use this evolution to deliver on “the promise of Voyager Digital Assets,” as well as the original value proposition of the team behind it. However, Ethos is apparently trying to distance itself from Voyager, citing a period of suboptimal business conduct and the effects of the latest market contagion caused by 3AC capital.

“The Ethos 2.0 product primarily caters to novice and intermediate crypto users with an account on a centralized exchange that look to take full control of their funds or prefer not to rely on these entities’ ability to protect customers. The team also hopes to aid DeFi users overwhelmed with the complexity of some DeFi apps, as well as users looking for easy and quick access to trading and order-making,” the statement reads.

The rebranded Ethos, or Ethos 2.0, believes that self-custody doesn’t have to be complicated. As such, it is creating a secure trading platform that’s as intuitive and robust as any centralized exchange. In addition, there is a frictionless trading experience as users do not sacrifice market access for security.

At the heart of the new ecosystem is Ethos’ secure key backup solution ‘Magic Keys’, which lets users keep their keys safe, so they never have to sacrifice security for convenience. The service features enterprise-grade key encryption, sharding, and backup services.

Voyager tapped into Ethos’ core technology to scale from a few thousand users to over 3 million users in just a few years. Ethos was a silent, but crucial, piece of Voyager’s infrastructure and subsequent success.

Although Ethos 2.0 launches on the heels of Voyager Digital Assets’ bankruptcy, it will not abandon customers of the bankrupt crypto lender. One billion ETHOS tokens are set aside as “recovery tokens” to victims of the Voyager bankruptcy.

Other crucial features provided through the Ethos platform include:

  • Ethos Vault: keeps coins safe as a self-custody crypto vault.Additional security measures include 2FA and social guardian technology.
  • Live Trading: 100% self-directed trading on the blockchain with zero counterparty risk.
  • Best Price Execution: Ethos crawls dozens of decentralized exchanges for best trading ratio executions.Trades can be split across multiple providers for optimal price execution.
  • Ethos Rewards: earn Ethos tokens for every trade and unlock bonus tokens for leading about DeFi.Holding more tokens reduces ecosystem fees.
  • Yield Seeker: Discover staking opportunities and generate personal smart contracts. Staking returns are deposited automatically in your Vault.

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